Energy commodities trader and convenience store network Virši has made an additional investment in the share capital of SIA "Livland Biomethane", increasing its stake from 20% to 49%.
This step is part of the company's strategy to gradually increase its stake to 51%, thereby strengthening its position in the biomethane production sector.
"The construction of a biomethane plant is the next strategic step in Virši's development, further strengthening and diversifying our business model. We believe that at the European level, biomethane will play a critical role in the future in making the transport and manufacturing industries more sustainable. This, in turn, will ensure strong demand and profitability for this product in the coming years," said Virši's Chairman of the Management Board, Jānis Vība.
With this investment, Virši continues to develop sustainable energy solutions and promote the use of green energy in Latvia and Europe.
In Januuary, the company commenced the construction of a biomethane plant in Naukšēni, Valmiera Municipality in Latvia.
The European Energy Efficiency Fund provided a long-term loan to finance the project.
To secure the loan, the project participants pledged their shares in SIA Livland Biomethane, with the maximum secured claim amounting to €17.7 million.
"The construction of the biomethane plant is the next strategic step in Virši’s development, further strengthening and diversifying our business model. We believe that biomethane will play a critical role at the European level in making the transport and industrial sectors more sustainable. This, in turn, will ensure strong demand and profitability for this product in the coming years," explained Vība.
Virši increases share in Livland Biomethane to 49%
